Wednesday, June 01, 2016
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Wells Remains Under Local Ownership

(Le Mars) -- Wells' Enterprises, maker of Blue Bunny Ice Cream, has announced they are no longer for sale.  In a statement released Wednesday afternoon, Wells Enterprises has completed a comprehensive strategic process to raise capital in support of their growth strategy and vision to become the number one ice cream company in America by 2020.  The Board of Directors and shareholders have concluded that the best course of action is refinancing in order to support the growth objectives.  As a result, Wells Enterprises will not seek outside equity investors.  There will be no changes to the current ownership
structure at this time.  Wells will remain privately held and a family-owned company, just
as it has been for the last 100 years.  We expect to complete our capital raising efforts in
early 2013.  Since 1913, Wells has had a long history of being a privately held family-owned company and they are proud to continue that tradition as we take this step to grow our
business and position Wells for the next 100 years.

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